
Essel Group, led by media mogul Subhash Chandra, is in for a rocky ride after losing control over two of its biggest cash cows — Zee Entertainment and Essel Propack. Both companies accounted for the bulk of the group companies combined post-tax profits last financial year and were debt-free on a net basis, unlike the rest, shows an analysis of its financials.
Five years ago, Subhash Chandra has passed on the control of the specialty packaging major -Essel Propack to his younger brother Ashok Goel as part of the family arrangement. A profitable and significant cash generator, Essel Propack was acquired by American private equity major Blackstone. Blacksote acquired majority stake in the company earlier this year for around Rs 2,200 crore.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
What you get on Business Standard Premium?
-
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
-
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
-
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
-
Pick your 5 favourite companies, get a daily email with all news updates on them.
-
26 years of website archives.
-
Preferential invites to Business Standard events.

Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Fri, December 06 2019. 00:53 IST
RECOMMENDED FOR YOU